PIMCO Municipal Income II (NYSE: PML) sees offsetting BofA insider trades
Rhea-AI Filing Summary
PIMCO MUNICIPAL INCOME FUND II (PML) had mixed insider activity reported by Bank of America Corporation and its wholly owned subsidiary Merrill Lynch, Pierce, Fenner & Smith Incorporated. On August 18, 2026, they indirectly purchased 100 shares of common stock at $7.45 per share and indirectly sold 100 shares at $7.355 per share. The reporting persons disclaim beneficial ownership except to any pecuniary interest and state that any profit potentially recoverable under Section 16(b) will be remitted to the fund.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
BANK OF AMERICA CORP /DE/, MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
Role
10% Owner | 10% Owner
Bought
100 shs ($745.00)
Sold
100 shs ($735.50)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | COMMON STOCK F1, F2, F3 | 100 | $7.45 | $745.00 |
| Sale | COMMON STOCK F1, F2, F3 | 100 | $7.355 | $735.50 |
Holdings After Transaction:
COMMON STOCK — 0 shares (Indirect, See Footnotes)
Footnotes (3)
- F1. This statement is jointly filed by Bank of America Corporation and Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") (collectively, the "Reporting Persons"). Bank of America Corporation holds an indirect interest in the securities listed in this Report by virtue of its 100% ownership of its subsidiary Merrill Lynch. Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Securities Exchange Act of 1934 (the "Exchange Act"), or for any other purpose.
- F2. Each Reporting Person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the Exchange Act or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.
- F3. Without conceding its status as a greater than 10% beneficial owner or that the reported transactions are subject to disclosure under Section 16(a) of the Exchange Act or short-swing profit recovery under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that the Reporting Persons were greater than 10% beneficial owners and the transactions were subject to Section 16(b) will be remitted to the Issuer.
Key Figures
Shares purchased: 100 shares
Purchase price: $7.45 per share
Shares sold: 100 shares
+3 more
6 metrics
Shares purchased
100 shares
Indirect purchase of PIMCO Municipal Income Fund II common stock on August 18, 2026
Purchase price
$7.45 per share
Price for 100 indirectly purchased common shares on August 18, 2026
Shares sold
100 shares
Indirect sale of PIMCO Municipal Income Fund II common stock on August 18, 2026
Sale price
$7.355 per share
Price for 100 indirectly sold common shares on August 18, 2026
Net shares from transactions
0 shares
Transaction summary netBuySellShares from reported buy and sell on August 18, 2026
Ownership status
Greater than 10% owner (disputed)
Reporting persons listed as 10% owners but expressly do not concede greater than 10% beneficial owner status
Key Terms
beneficial ownership, pecuniary interest, Section 16(b), short-swing profit recovery, +1 more
5 terms
beneficial ownership financial
"Each Reporting Person disclaims beneficial ownership of the securities reported herein"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"disclaims beneficial ownership ... except to the extent of its pecuniary interest therein"
Section 16(b) regulatory
"subject to disclosure under Section 16(a) of the Exchange Act or short-swing profit recovery under Section 16(b)"
A federal rule that requires company insiders—like officers, directors and large shareholders—to return any profits made from buying and selling the company’s stock within a six-month window. It matters to investors because it discourages short-term trades that could exploit non-public information and helps protect outside shareholders by creating a simple, enforceable way to recover unfair gains, much like a rule stopping someone from flipping a limited-edition item for quick profit after getting early access.
short-swing profit recovery regulatory
"the amount of profit potentially recoverable ... and the transactions were subject to Section 16(b)"
Section 13(d) regulatory
"for the purposes of Section 13(d) of the Exchange Act or any other purpose"
A Section 13(d) filing is a public disclosure required under U.S. securities law when a person or group acquires more than 5% of a company’s registered equity and may influence control. The filer must report who owns the shares, how they were acquired, and any plans or intentions for the company, so the market and other shareholders can see if a large buyer is attempting a takeover or other strategic move. Think of it like a formal announcement that someone has crossed a threshold and is showing their hand.
FAQ
What insider transactions were reported for PML on this Form 4?
The filing reports an indirect purchase of 100 shares at $7.45 per share and an indirect sale of 100 shares at $7.355 per share, both on August 18, 2026, by entities associated with Bank of America Corporation and Merrill Lynch.
Who are the reporting persons in the PML Form 4 filing?
The reporting persons are Bank of America Corporation and its 100%-owned subsidiary Merrill Lynch, Pierce, Fenner & Smith Incorporated. The positions are reported as indirect holdings, and each reporting person disclaims beneficial ownership except to the extent of any pecuniary interest.
Were the PML insider transactions net purchases or sales?
The transactions were effectively net neutral, with 100 shares purchased and 100 shares sold on the same date. The filing’s transaction summary shows netBuySellShares of 0, indicating no net change in reported share exposure from these trades alone.
How do the PML reporting persons treat potential short-swing profits?
The reporting persons state that any profit potentially recoverable under Section 16(b), assuming they were greater than 10% beneficial owners and the transactions were covered, will be remitted to PIMCO Municipal Income Fund II.
Do the PML reporting persons admit being a greater than 10% beneficial owner?
The filing explicitly does not concede that the reporting persons are greater than 10% beneficial owners or that the transactions are subject to Section 16(a) or 16(b), while still committing to remit any potentially recoverable Section 16(b) profit.
Are the PML insider transactions under a Rule 10b5-1 trading plan?
The Rule 10b5-1 checkbox is not marked as true in this filing, and the footnotes do not describe any pre-arranged trading plan. The trades are reported as open market or private transactions without specified plan status.
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